District of Columbia Luxury Housing Market Update December 217
District of Columbia - December 217 The real estate market is always changing, and if you re buying or selling a home especially a luxury property it s critical to understand the current market conditions. More than simply seeing what s happening to real estate as a whole in your local area, you need insights on what s taking place in the highend market, specifically with uncommon and unique homes like yours or those for which you re shopping. That s why Long & Foster publishes our exclusive LuxInsight report giving consumers like you invaluable information on the luxury market performance in your local area. Published monthly, LuxInsight provides you with A broad overview of real estate trends in the high-end real estate market. From median sale prices and active inventory to the current housing Demand and available active listings, LuxInsight gives you access to essential statistics you need to know. Beyond this valuable market information, Long & Foster s team of luxury sales associates is available to guide you through the real estate process. We believe luxury real estate is all about the individual, and when you work with us, you'll receive an experience tailored to your unique needs. You'll enjoy exceptional service and expertise, provided by agents who specialize in marketing and selling the most stunning luxury homes. You'll gain our exclusive connections around the world and get a luxury home experience with proven results. AT A GLANCE Active Inventory 257 New Listings 59 Units Sold 136 Median Sale Price 3 25 2 15 1 5 D-14 M-15 J-15 S-15 D-15 M-16 J-16 S-16 D-16 M-17 J-17 S-17 D-17 2 18 16 14 12 1 8 6 4 2 D-14 M-15 J-15 S-15 D-15 M-16 J-16 S-16 D-16 M-17 J-17 S-17 D-17 $1,5, $1,45, $1,35, $1,3, $1,25, $1,2, D-14 M-15 J-15 S-15 D-15 M-16 J-16 S-16 D-16 M-17 J-17 S-17 D-17 Down -1.5% Down -26.3% Up 67.9% Down -1.8% 2
District of Columbia - December 217 Compared to last December, the total number of homes more than $1 Million available this month was lower by 1.5% and higher by 18.4% compared to December 215. Active inventory this December was 25.3% lower than the previous month s supply of available inventory. Total Inventory INVENTORY PRICE RANGES $1M + 2.75% $1M - $2M 12.11% $2M - $5M 6.62% $5M+ 2.2% 45 4 35 3 25 2 15 1 5 ACTIVE INVENTORY 169 152 172 232 258 252 245 257 25 284 296 251 217 229 225 262 312 321 315 289 246 318 321 313 261 278 297 344 354 355 375 336 292 395 416 344 257 NEW LISTINGS & NEW CONTRACTS New Listings New Contracts ACTIVE INVENTORY Versus Previous Years 3 25 2 15 1 5 27 48 58 37 8 59 82 78 3 25 2 15 1 5 217 261 257 3
District of Columbia - December 217 This month s units sold for homes more than $1 Million was higher than at this time last year, an increase of 67.9% versus last December and an increase of 83.8% versus December of 215. There was an increase of 19.3% in luxury units sold in December compared to November of this year. 15 1 5 UNITS SOLD Versus Previous Years 74 81 136 2 18 16 14 12 1 8 6 4 2 72 62 6 65 89 11 12 111 68 77 83 94 74 43 52 UNITS SOLD 75 95 129 148 112 122 85 74 94 81 76 8 117 1 166 174 135 118 77 132 114 136 Sold Date City Zip Code RECENT SELECTED LUXURY SALES Final List Price Final Sale Price Sale Price as % of List Price December 27, 217 Washington 28 $2,75, $2,5, 9.9% 137 December 5, 217 Washington 216 $2,499,9 $2,4, 96.% 45 December 5, 217 Washington 215 $1,995, $1,975, 99.% 12 December 4, 217 Washington 216 $1,7, $1,65, 97.1% 228 December 8, 217 Washington 27 $1,695, $1,6, 94.4% 26 December 15, 217 Washington 237 $1,595, $1,595, 1.% 16 December 29, 217 Washington 237 $1,75, $1,54, 88.% 85 December 15, 217 Washington 28 $1,55, $1,498,75 96.7% 113 December 14, 217 Washington 215 $1,45, 96.6% 37 December 18, 217 Washington 215 $1,379, $1,379, 1.% 1 DOM Buyer Long & Foster Represented Seller 4
District of Columbia - December 217 In December, the median sales price for homes more than $1 Million was, a decrease of 1.8% compared to last year. The current median sales price was higher by % than in November. $1,43, $1,42, $1,41, $1,39, $1,38, MEDIAN SALES PRICE Versus Previous Years $1,425, $1,55, MEDIAN SALES PRICE $1,5, $1,45, $1,35, $1,3, $1,25, $1,2, $1,15, $1,327,25 $1,455, $1,366,5 $1,299,9 $1,385, $1,35, $1,25, $1,38, $1,48,93 $1,425, $1,269,75 $1,467,5 $1,372,5 $1,395, $1,349, $1,397, $1,33, $1,375, $1,236,25 $1,322,5 $1,425, $1,482,5 $1,391,5 $1,275, $1,289,5 $1,41, $1,352,498 $1,399, $1,355, $1,365, $1,28, $1,35, $1,1, $3,, TOTAL DOLLAR VOLUME SOLD $25,, $2,, $15,, $1,, Total volume sold this December was 62.7% higher than the same month one year ago. $5,, $ $135,329,248 $137,978,498 $14,474,43 $228,554,75 5
District of Columbia - December 217 In December, the average sale price for homes more than $1 Million was 97.6% of the average list price, which is similar compared to a year ago. 15% 1% 99.4% SALE PRICE AS % OF LIST PRICE This month, the average number of days on market was 41, higher than the average last year, which was 4, an increase of %. 95% 9% 94.9% 97.6% 97.6% DAYS ON MARKET 7 6 5 4 3 2 66 63 51 47 41 31 41 34 32 33 29 31 32 58 44 47 36 38 34 4 36 33 3 29 29 59 41 47 33 41 38 32 28 29 26 24 2 1 MONTHS OF SUPPLY In December, there were 1.9 months of supply available, compared to 3.2 in December of 216. That is a decrease of 4.6% versus a year ago. 6 5 4 3 2 1 2.4 3.6 2. 2.3 3.6 2.7 5.3 4.3 3.5 3.3 2.1 2.6 2. 4.3 3.3 3.2 3.5 2.1 2.2 5.1 3.2 3. 1.9 6
District of Columbia - December 217 References & Definitions DISTRICT OF COLUMBIA, DC: LISTING SOURCE, REPORTING AREA, & DEFINITION Based on data supplied by the Metropolitan Regional Information Systems (MRIS) MLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. This report includes coverage for the District of Columbia only. Analysis dates for all regions are December 1, 214 through December 31, 217. MEDIA CONTACT Vicki Bendure, Bendure Communications Email: Vicki@bendurepr.com Phone: (54) 687-336 Contacts & Disclaimers CREATED BY Michael Bystry, Long & Foster Real Estate, Inc. Senior Market Research Analyst DISCLAIMER "Information contained in this report is based on data provided by the local area Multiple Listing Service and its member Association(s) of REALTORS. No representation, expressed or implied, should be taken from information herein. Neither these organizations nor Long & Foster Real Estate, Inc. guarantee or are in any way responsible for the accuracy of these results, which do not reflect all activity in the marketplace. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are December 1, 214 through December 31, 217. Information contained in this report is not limited to transactions done by Long & Foster Real Estate, Inc. The data reported is solely for residential real estate transactions. Information contained in this report is deemed reliable but not guaranteed, should be independently verified and does not constitute an opinion of Long & Foster Real Estate, Inc. For more information regarding your specific market, contact one of Long & Foster s knowledgeable and experienced sales associates. Analysis dates are December 1, 214 through December 31, 217". Material appearing in this report may be reproduced or copied without permission. Please use the following acknowledgement for citation: Source: Long & Foster Real Estate, Inc. and also cite the appropriate MLS. 7